This could be a good trade but also has more risk on these level. RR ratio is good, and we can see more gain to the upside as fear overcomes on the markets do to the corona virus Fear always puts more gain on Gold so... we can see price testing the previous high. BUT also big banks and institutions are aware of these levels and they might wan't to manipulate the market at this level, so we have to be prepared for stop loss hunting, so that's why I'm taking this position only half size as usual. If I'm getting stopped out, I'm still looking to get back in for a long if we have a new setup forming.
Be careful around these levels, the big boys are watching and looking to hunt down retail traders.
Be careful around these levels, the big boys are watching and looking to hunt down retail traders.
Trade closed: stop reached:
What a stop loss hunt! LOL It was too good to be true, but hey, this is trading. Still believe Gold will pop back up.